All Forum Posts by: Brian R.

Depends on your state laws.  In Minnesota, if it is my owner occupied property, I can pull all permits myself for the entire job, and do it all myself, including electrical and plumbing.  If it is one of my rentals, I can't do any permit required work myself unless I am a licensed contractor.

If they boarded up the house, they did the work, they will want to be paid for the work they did.  

I bought a house next to me from the city years ago.  The city bought it from the previous owner and was selling it to me to tear down and split the property with the property owners on the other side.  The original owner had to be out by 5:00pm Friday night.  He was, and then returned Saturday morning.  They city came out on Saturday, the police removed him, and public works came out shortly after, and boarded up the house.  Because of the public hearings and such that had to take place for me to purchase it, from this point to when I closed was about a month.  When I was given my closing statement for what I owed, it included an assessment from the city for about $2500.00 for boarding up the property.  If the former owner had not come back, they would not have boarded it up because of the pending sale to me. They would not remove it.  I watched them board it up, and could have done it for about $500.00 myself.

Good luck on it!

I had this happen about two months ago.  Friday afternoon, sellers agent told my agent they would accept my offer, and would be meeting with the sellers that evening to sign the contract.  After not hearing from the sellers agent by noon Saturday, my agent called sellers agent, and was told another offer came in, and they are taking that one instead, it was for more than asking price.

Did you get anything for Lino Lakes?  Rent in Centerville would probably be similar to a little lower.  Centerville doesn't have a lot of rentals to compare.  I would base it on White Bear Township and Lino Lakes, see what kind of response you get based on those comps.  

@Shu Matsuo Post Yes, Centerville Elementary school, part of the Centennial School District.  My sister and brother both went to that school.

Again, do your due dilligance, and have the property inspected, especially the foundation.  I know that a few of the properties in that area have been "upgraded" by putting new siding on, but probably didn't do anything with the rotted wood that existed.

I don't know if they have any branches in your area, but I closed on a HELOC on one of my rentals through BMO Harris bank. It took about a month from start to finish.

I grew up in Centerville, graduating from Centennial school district.  A small city in the middle of the City of Lino Lakes.  A pretty quiet city.  It has been built up a lot since I moved in 1999.  

I would have no problem purchasing a property in Centerville, I would be careful with anything in the Main Street/Centerville Road area, as far as the condition of the foundation.  Some of them I remember from when I lived their I questioned the overall condition. (the one in particular I remember was on the curve of Main Street, by Saint Johns Baptist Church)  You should anyways, but get an inspection of whatever you do buy.

This is not meant to sway you away from buying it, just do your due diligence.  I would jump on the area!

I am about to purchase a duplex, and I am looking for a property manager in Owatonna.  Can someone recommend anyone in the area they use?

Thanks!

I plan to do it myself. 

With that said, if it is a single family home, I say rent is $1,000.00 and I will take care of lawn care.  If you do the lawn care, the rent is $900.00.  (set your own numbers)  I figure out what it would cost me to hire someone to do the work, and reduce the rent about 25% of the cost.  

But if the tenant says they are going to do the work, and then they don't,  you as the owner will end up with the fine from the city for the code violation(s).  

My electric/gas company allows me as the landlord to put the account in the tenants name.  They have a form on the website that I have the tenant fill out as part of signing the lease.  It collects all the tenants information the electric/gas company requires to establish the account.  I then fax the form to the company, and it is all done. This ensures it is done.  It takes a total of 10 minutes to fill out and fax.

Check the website of the gas/electric company to see if that option exists. (This is with Xcel Energy)